Real stories from finance leaders on how to take finance to the next level

Recently, we sat down with our customers and asked: What’s the secret to your success??

It comes down to this: Ambitious finance leaders are eager for change and have a passion for progress. The desire to do better, move on from the way it’s always been done, and propel their organization forward is the foundation for success.??

And as we chatted, it came to light that finance leaders are facing a similar set of challenges, regardless of industry or business size. Chances are you’re facing similar challenges too.??

In this month’s newsletter, we’re sharing tips on how to take finance to the next level—inspired by real stories from finance leaders. Get inspired by leading organizations who see next-gen finance as a game-changer in the way finance teams work. ? ?

?? The MVP of Miami HEAT’s financial planning?

Brendan Perrin is the VP of Finance for the NBA team, Miami HEAT . And their goal? Hit nothing but net with their budgeting and forecasting.??

Here’s what the Miami HEAT did for accurate, agile planning:?

1. Used adaptable scenario planning to account for changing conditions that could impact a live, events-based business model.??
2. Implemented data integration and automation, ensuring that the data used for their budgeting and planning is accurate and up to date.?
3. Improved version control to ensure everyone is using the latest version of a plan to build budgets and forecasts.??
4. Focused on collaboration as a means to efficient budget creation, revisions, and approvals—with everyone working within a single source.????

Watch Miami HEAT's full story.

?? Next-level collaboration for SummitStone Health Partners??

Garrett Dietz is the Senior Financial Analyst at SummitStone Health Partners , a provider of behavioral healthcare services in Larimer County, Colorado.??

Here’s how SummitStone improved efficiency and collaboration across their organization:????

1. Streamlined data integration with automatic updates, reducing the need for manual data collection and ensuring their data is always up to date.?
2. Focused on uncovering deeper analytical insights that show the story behind the data, helping the team in their decision-making process.??
3. Optimized reporting for consistent, structured reports that are predictable and easy to understand.??
4. Increased the understanding of and access to financial data across the organization so that other teams can integrate finance insights into their planning.??

Watch SummitStone's full story.

? Total transformation for USA Properties’ finance function??

Jonny Harmer is the CFO at USA Properties Fund, Inc. , a vertically integrated real estate company.??

Here’s how USA Properties grew from budget improvements to total finance transformation:??

1. Integrated data from their subsidiaries and ERPs into one platform for a single source of truth for financial planning and analysis.??
2. Improved cash flow planning by building pre-development and pre-construction activity budgets to better predict costs.??
3. Created a holistic view of business performance for a better understanding of capital allocation and operating margins for decision-making.??
4. Increased productivity by reducing the amount of time spent on valuable, everyday tasks and engaging team members in more value-add activities, making a direct impact on business operations.??

Watch USA Properties' full story.

?? Streamlined finance and operations planning for Sequel Wire and Cable?

Denise Feece is the CFO/COO at Sequel Wire and Cable LLC . Denise is a long-time finance technology advocate, driven by her ambition for a better way of managing finance processes.??

Here’s how Sequel Wire and Cable achieved nimble decision-making for finance and operational planning:?

1. Leveraged technology to create daily shipping reports by integrating ERP data for streamlined operational planning.?
2. Reduced reliance on Excel spreadsheets, and moved to consistent, automated, error-free forecasts.??
3. Implemented flexible analysis and reporting for easy sharing of information across the organization, resulting in better managed business responsibilities.??
4. Integrated data into one source of truth for savings in time and money, improved efficiency, and one point of access.??

Watch Sequel Wire and Cable's full story.

?? Choosing the right partner in your finance transformation journey??

So, how do you join these ambitious finance leaders and take the next step in transforming your finance function???

Transformation doesn’t happen overnight. And you can’t do it alone. When it comes to taking your finance function to the next level, not only do you need buy-in from your team, but you need to partner with the right technology to support you.??

Listen to what these finance leaders had to say about what they considered when looking at a technology partner, and what ultimately led them to see what they could do with Prophix.??

Watch the full video .

Ready to take your finance function to the next level? Check out the Prophix blog for more resources.?

You know that voice within you? Telling you to speak up, lean in, and take your seat at the table? Telling you to say no to the status quo, and say yes to defying expectations? That's your ambition. See what you can do with Prophix. Share this newsletter with a friend and subscribe to #BeyondTheNumbers for the latest finance insights and innovation.?